The pledge note given to the debtor upon registration in the Trade and Personal Property Rights Register shall clearly mention the following:
- the words “Pledge of Stocks”;
- the date of issue which shall correspond to the date of registration in the Trade and Personal Property Rights Register;
- the entry number in the Chronological Deposit Register;
- the signature of the Debtor.
The said note shall be signed dated and endorsed by the debtor to the creditor.
It may be endorsed and guaranteed under the same conditions as a promissory noteand shall have the same effects.
In the absence an agreement to the contrary, the note shall, unless renewed be valid for five years as from the date of issue.
Official translation
Transcription: Spot-checked
In force from 16-05-2011
Source page 31
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
How Lex Cameroon marks its texts →